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Re:A Formulation of the Trilemma in Proof of Work Blockchain by kylebenzle on Tuesday July 23, 2024 @07:38AM (#41044914)
Because LN is a centralized service that 100% defeats the purpose of cryptocurrency, it's weird so many have fallen for the scam.

Bitcoin Cash (BCH) functions as Bitcoin, digital cash, still, Bitcoin (BTC) is a digital Ponzi scheme for morons run by the US government.

Re:A Formulation of the Trilemma in Proof of Work Blockchain by snapcaster on Tuesday July 23, 2024 @08:36AM (#41045318)
Do you understand the downside of large blocks?
Re:A Formulation of the Trilemma in Proof of Work Blockchain by DennisP on Tuesday July 23, 2024 @09:56AM (#41046081)
Do you understand that the block limit was set fourteen years ago, and that bandwidth and storage have increased exponentially since then?
Re:A Formulation of the Trilemma in Proof of Work Blockchain by lawn on Tuesday July 23, 2024 @10:22AM (#41046278)
It was also introduced as a temporary spam measure.
Re:A Formulation of the Trilemma in Proof of Work Blockchain by snapcaster on Tuesday July 23, 2024 @03:37PM (#41049910)
So right, but the issue is that block size increases only get you a linear increase in transaction rates which doesn't really address the problem (would 50 t/s somehow resolve any blockchain congestion?). So you make your currency less secure, risk chain splits but haven't even really solved any problems
Re:A Formulation of the Trilemma in Proof of Work Blockchain by DennisP on Tuesday July 23, 2024 @10:13PM (#41053039)
If the hardware is improving exponentially, then increasing the block size on the same curve is also an exponential improvement.

Layer 2 is helpful but does not entirely remove the need for space on chain. In LN for example, every channel opening and closing uses block space.

Re:A Formulation of the Trilemma in Proof of Work Blockchain by Geee on Tuesday July 23, 2024 @10:36AM (#41046412)
Nothing centralized about it and it's not a service. I can open a Lightning channel to my friend and make as many transactions as I want. Only the final difference is broadcasted to the Bitcoin blockchain. A similar method was originally suggested by Satoshi for scaling Bitcoin, so I don't know how it could be a "scam".